AMD: Key Support/Resistance Levels to Watch. (D&W charts).
The chart analysis for AMD reveals a complex interplay of support and resistance levels on both daily and weekly timeframes, suggesting key trends and potential pivot points for the stock.
Starting with the daily chart, AMD has shown resilience at specific support levels, particularly around the 153.49 mark, which has acted as both a gap support and a critical level where the stock has bounced multiple times. This area appears to be a robust key point. However, after it lost this support, a new resistance is clearly defined by the 21-day EMA coupled with the 153.49 price level, following the Principle of Polarity which suggests that once support is broken, it becomes resistance. This transition points to a key battleground for AMD, where the stock’s ability to reclaim this level could signal a potential reversal or, alternatively, a failure to overcome this barrier might reinforce a bearish outlook, mid-term speaking.
On the weekly timeframe, the chart demonstrates a struggle around the 132.83 level, previously a resistance that now serves as a major support following the Principle of Polarity again. The current approach towards this level suggests a testing phase where the future direction of the stock will be determined by its ability to maintain above 132.83. The proximity to this crucial support level, paired with recent downward moves, highlights a potentially pivotal moment for AMD in the medium to long term.
Collectively, these observations from both timeframes suggest that AMD is at a critical juncture. The repeated tests of well-defined support and resistance levels underscore the ongoing uncertainty and volatility associated with the stock. For now, we should closely monitor these levels, as breaks or bounces could provide significant indications of AMD's future price trajectory.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
Starting with the daily chart, AMD has shown resilience at specific support levels, particularly around the 153.49 mark, which has acted as both a gap support and a critical level where the stock has bounced multiple times. This area appears to be a robust key point. However, after it lost this support, a new resistance is clearly defined by the 21-day EMA coupled with the 153.49 price level, following the Principle of Polarity which suggests that once support is broken, it becomes resistance. This transition points to a key battleground for AMD, where the stock’s ability to reclaim this level could signal a potential reversal or, alternatively, a failure to overcome this barrier might reinforce a bearish outlook, mid-term speaking.
On the weekly timeframe, the chart demonstrates a struggle around the 132.83 level, previously a resistance that now serves as a major support following the Principle of Polarity again. The current approach towards this level suggests a testing phase where the future direction of the stock will be determined by its ability to maintain above 132.83. The proximity to this crucial support level, paired with recent downward moves, highlights a potentially pivotal moment for AMD in the medium to long term.
Collectively, these observations from both timeframes suggest that AMD is at a critical juncture. The repeated tests of well-defined support and resistance levels underscore the ongoing uncertainty and volatility associated with the stock. For now, we should closely monitor these levels, as breaks or bounces could provide significant indications of AMD's future price trajectory.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.